The homestead exemption and Save Our Homes assessment limitation help thousands of Florida homeowners save money on their property taxes every year. When to file: Application for all exemptions must be made between January 1 and March 1 of the tax year.By law, a homestead exemption is not transferable. If you move, your homestead exemption does not automatically follow you to your new residence. Proof of Florida voter registration (must reflect permanent residence address). If you're planning to claim a homestead exemption, you must first apply for a Florida driver's license. What is Homestead Exemption? If you own your home, reside there permanently and are a Florida resident as of January 1, you may qualify for homestead exemption. The applicant must have documented evidence(i.e.